The 2008 banking crisis highlighted the need for firms to have an effective recovery plan in place in order to better cope with the stresses that developed and failures that might have been avoided. During early August 2011 the FSA set out its proposals on what is expected of firms with regards to planning for a stressed situation which will require a firm to take action to recover, or, if necessary, wind-down in an orderly manner without putting taxpayers at risk of loss.

This practice note, which is the first in a series, outlines the FSA's proposals, looks at the next steps required and explains what practical assistance avantage can offer in helping our clients to construct these plans.

Download a copy of practice note here.